In this issue: We summarize the rulings established by the Treasury Department for those taxpayers, individuals, or corporations, that render professional services and that
In this issue: As a supplement to the tax incentives provided by Acts 20 and 22, some municipalities of Puerto Rico have added benefits
In this issue: On its Internal Revenue Informative Bulletin No. 18-24, the Treasury Department (TD) informs that beginning on January 1, 2019 the 7%
Effective January 1, 2019, and in order to simplify the rules for the deposit of withholdings of salaries as well as comply with the recent
We are including an additional notice on the transition to SURI of Tax Accounts; on this one, we summarize the information related to the import
This is the second of a series of bulletins we will be sharing with you regarding the transition to SURI. We remind you that
The Treasury Department (TD) revises and publishes the new versions of the Withholdings Vouchers and of the Informative Declarations that must be submitted annually
By means of its Internal Revenue Circular Letter No. 18-13 (CC RI 18-13), the Treasury Department (TD) informs that from December 10, 2018, all
Property owners that rent a space for ninety (90) consecutive days or less must charge a tax equal to 7% of the room rate as
The Second Phase of the transition to the Internal Revenue Unified System (SURI) will be launched on December 10, 2018, informed the Treasury Department
By means of Executive Order 2018-033 (OE-2018-033), the Governor of Puerto Rico established the minimum wage of $15.00 per hour for employees that work in
By means of its Administrative Order No. 2018-08 (OA 2018-08), the Municipal Revenue Collection Center (CRIM) extends to October 31, 2018, the period for
In order to help Puerto Rico residents compensate cash flow problems caused by the unexpected expenses due to the passing of hurricanes Irma and
Department of State Extends the Period to Present Annual Reports The Department of State informed that the period for submitting corporate annual reports was extended
EMPLOYEE RETENTION CREDIT The Employee Retention Credit provides a federal tax credit to employers that continued to pay their employees during the periods on which
Individual TaxResidents of Puerto Rico are subject to federal income tax on their worldwide income. However, U.S. Code Section 933 permits a bona fide individual
Registration and Authorization Before conducting business locally, all corporations or limited liability companies must register at the Puerto Rico State Department. Puerto Rico corporations
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